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Thinking About Joining or on DEP? Thinking about the Navy? Already decided and now you are a "DEP'er"?

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Old 02-09-2011, 06:08 PM   #1
Shipe
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Navy Federal or USAA?

simple question. pros and cons of Navy Federal vs. USAA vs. any other military banking. just curious as to wear I should put my money.

Seperation date: 20110423
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Old 02-09-2011, 06:52 PM   #2
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Funny you ask this bc I was just wondering the same thing! My friend was telling me how he gets some crazy deals through USAA (like 2 cars FULL coverage and renters insurance plus all his wife's jewelry for $165/mth!). But my other friend was telling me that she has navy fed and that she loves the rates and all.
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Old 02-09-2011, 07:21 PM   #3
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USAA is the Insurance Company that most military use for there insurance. Can't bet their rates for the young ones.

Navy Fed for banking and such, but the loan rates are better that some places but can be beat at other credit unions if you check around.
Depending upon your credit rating.

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Old 02-09-2011, 10:32 PM   #4
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I just think it's easier to deal with NFCU as they have branches all over the place. Heck, there are at least 4 branches within just a couple of minutes of my house. Insurance-wise Michael stuck with State Farm (we've been with them for years) and not USAA. We've done a couple of loans with NFCU and it beats the rates from one of the other credit unions that we bank with by quite a bit.

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Old 02-10-2011, 06:24 AM   #5
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When Brian got his truck, our credit union (KY Auto Truck) beat Navy Fed by about 3 points cheaper than Navy Fed. But Navy Fed was better than the rest of the alternatives. We looked at 7-8 different loan companies. His rate ended up being 6% for his new truck and first loan. LOL.. Several companies wouldn't touch him because of no credit history.

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Old 02-10-2011, 07:57 AM   #6
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The lesson from this is that you need to check around and find the best rates that you possibly can and not just go with the first place you stop at.

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Old 02-11-2011, 05:07 PM   #7
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Navy Fed has no down falls anymore in my opinion. USAA used to get paid a day earlier, but now Navy Fed gets paid the same day.
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Old 02-13-2011, 08:47 PM   #8
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For banking I have accounts with both USAA and Navy Fed, no complaints with either. (have had NFCU since I was a young FN in the Navy) With my new vehicle I just bought, went on line filled out the app, called and verified it was me and had the electronic check in seconds. The rate with USAA was just as good if not better than the others.

Insurance wise, USAA is top notch. Full coverage on two cars, 75K in renters insurance and valuable stuff for the wifey's jewlery is only like $140 a month. Got my renters policy on May 1, 2010 it took affect at 0001 May 2nd. Well May 1st the base flooded, some 1,000 year flood crap the engineer's say, but we were not totally washed out at our home like some of our friends. USAA had adjusters on site by the 3rd, I was wondering if I would be covered or not since my policy didn't start unti the 2nd. They looked my info up and said yep, you are good to go here is what we need from you.... So I really can't complain about the way they do business.
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Old 02-15-2011, 10:09 PM   #9
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Quote:
Originally Posted by Shipe View Post
..... just curious as to wear I should put my money.
Here .... let me give you my direct deposit accounting info. It'll be put to good use, I promise !!

I've always heard great things about Navy Federal. My wife always preferred a civilian bank for her own preferrence .. so no first hand info. Only what I heard from my sailors.

Cheers,
PISTOL

Your focus must always be on the outcome and NEVER the situation. No matter how difficult things may be... the pain and hardship are irrelevant to the ultimate goal. Your goal is to become a part of an elite team. Nothing else matters! No pain, or hardship matters. They can run you, starve you, beat you, and kill you. ....but they can never make you quit.
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Old 02-15-2011, 10:58 PM   #10
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Quote:
Originally Posted by Retired Navy Chief View Post
Here .... let me give you my direct deposit accounting info. It'll be put to good use, I promise !!

I've always heard great things about Navy Federal. My wife always preferred a civilian bank for her own preferrence .. so no first hand info. Only what I heard from my sailors.

Cheers,
PISTOL
Ha. Sure give me your account info. Just don't be surprised to find a negative balance tomorrow morning.

Everyone: Thanks for the answers. I'll just decide when I get to RTC. My recruiter tells me they'll tell me about both when I get there.

Seperation date: 20110423
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Old 02-16-2011, 08:10 AM   #11
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Michael was set up with Navy Fed well before he got to RTC. He was glad he'd taken care of it earlier.

The best kind of friend is the kind you can sit on a porch swing with, never say a word, and then walk away feeling like it was the best conversation you've ever had.
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Old 02-16-2011, 01:31 PM   #12
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ah well I'll see what I can do with that but I think I'll just wait until I get to boot before I set anything up.

Seperation date: 20110423
shipdate: 20110316
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Old 02-16-2011, 02:49 PM   #13
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well I said screw it and I set up and account with Navy Federal with an Active Duty Checking account. I know its kind of early but at least I'm prepared.

Seperation date: 20110423
shipdate: 20110316
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Old 02-16-2011, 05:05 PM   #14
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You did do the right thing by taking care of it now. I know when Michael was heading out he did say that he was so glad he'd already done that before getting to BC - not like most of the other recruits who had to do it in rush mode. You really will be glad you took care of it early, trust me.

The best kind of friend is the kind you can sit on a porch swing with, never say a word, and then walk away feeling like it was the best conversation you've ever had.
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Old 02-18-2011, 08:40 AM   #15
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well...Navy Federal told me I'm not eligible to join so I have to fax them a copy of my contract...haha

Seperation date: 20110423
shipdate: 20110316
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Old 07-25-2012, 08:04 AM   #16
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Navy Fed is where most people open up an account but you aren't required to open one with them. He opened his checking account before he left for RTC since we have A LOT of branches around here VB/Norfolk). It made it a lot easier very early on in getting things taken care of before leaving for RTC.

The best kind of friend is the kind you can sit on a porch swing with, never say a word, and then walk away feeling like it was the best conversation you've ever had.

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